Pak-Qatar Family Takaful Limited (PQFTL), a part of
Pak-Qatar Group, Pakistan’s premier and pioneer Islamic financial services
group, has announced the distribution of 28% Surplus among its members of
Individual Family Takaful (IL-DSF) portfolio for the year 2023. This decision
was approved by the Appointed Actuary and Shariah Advisory Board, reflecting the
strong financial performance and commitment to participants’ benefits of PQFTL.
The single-rate method has been adopted to calculate the
Surplus and will be distributed amongst the participants through a defined
manner in relation to the “Cumulative Net Contribution”. Furthermore, the
actual distribution of surplus is carried out only to those Participants
leaving the pool during the year 2024, by way of Permanent Withdrawal, Death or
Maturity of the memberships.
Distribution of Surplus from the Waqf / Participants'
Takaful Fund (Risk) pool is an important principle of Takaful, setting it apart
from conventional insurance. This Surplus distribution signifies PQFTL's
dedication to providing its participants with exceptional value and financial
security. The company's focus on prudent financial management and a strong
risk-sharing framework has enabled it to generate significant surplus for its
participants.
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